Two celebrations in one: Egypt's investments expected to rise 33% with new constitution

Egypt’s economy began to stabilise in late 2013, helped by billions of dollars in aid that Gulf countries began to extend once the Islamist President Mohamed Morsi was ousted last July.

Net foreign direct investment in Egypt is expected to rise by a third to about $4bn this fiscal year, which ends in June, Egyptian Investment Minister Osama Saleh said on Monday.“It is a mix of investments, but a large portion of it is Gulf investments,”[2] Saleh told Reuters in Abu Dhabi, where he is attending an energy summit.

After over two years of political turmoil, Egypt’s economy began to stabilise in late 2013, helped by billions of dollars in aid that Gulf countries began to extend once the Islamist President Mohamed Morsi was ousted last July.Before Egypt’s 2011 revolution, it was attracting net foreign direct investment of around $8bn annually, according to central bank data.